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Cabinet furniture manufacturers invested heavily in 2014 as the world’s largest woodworking machinery manufacturer and supplier enjoyed double-digit growth.


Homag group, headquartered in Schopfloch in the south of Germany, said sales rose 16 per cent to €914.8m in the year to end December.


Around half of that was down to its early 2014 acquisition of the US furniture machinery supplier Stiles, though Homag said order intake — ignoring Stiles — was still up by 9.3 per cent year-on-year.


Homag — which runs 15 specialised production companies and 23 sales and service businesses worldwide including a UK division with sales north of £17m in 2013 — didn’t single out any specific market, but said in earlier trading updates that the US and China had helped deliver growth.


Worldwide staff numbers swelled by more than 500 (Stiles: 329 emp) to 5,606 with Homag citing expanding production in China and Poland as the main reason.


EBITDA* for the group was up 23 per cent to €93.2m.


* excludes one-off costs and employee profit participation